The labour market continued to gain ground last quarter. Seasonally adjusted employment rose 10,700 or 0.2 percent on the quarter to 5.516 million. This followed a 0.1 percent increase in the previous period. Unadjusted, the annual gain was 65,800 or 1.2 percent.

The latest quarterly advance reflected a 0.1 percent rise in the goods producing sector and a 0.3 percent increase in services. However, the ongoing decline in vacancies accelerated with a hefty 12.4 percent drop after an 8.4 percent fall in the second quarter. Unadjusted, job openings are now represent just 1.8 percent of all positions.

In sum, the third quarter labour market remained tight but declining job offerings point to a potential easing in over coming quarters.

The quarterly employment barometer is a survey of 18,000 businesses and service sectors encompassing approximately 65,000 establishments. It collects data on job vacancies, recruitment difficulties and the development of employment forecasts. The main focus is on the quarterly and annual changes in overall employment.

The employment data give a comprehensive report on how many people have jobs. These numbers are the best way to gauge the current state as well as the future direction of the economy. Employment data are categorized by sectors. This sector data can go a long way in helping investors determine in which economic sectors they intend to invest. By tracking the jobs data, investors can sense the degree of tightness in the job market. If employment is tight it is a good bet that interest rates will rise and bond and stock prices will fall. In contrast, when job growth is slow or negative, then interest rates are likely to decline - boosting up bond and stock prices in the process.